TrustCo Bank Corp NY (NASDAQ:TRST) is reporting third quarter financial results on Wednesday 21st October 2020, after market close.
According to analysts surveyed by Thomson Reuters, TRST is expected to report 3Q20 income of $ 0.12 per share from revenue of $ 42.50 million.
For the full year, analysts anticipate top line of $ 170.50 million, while looking forward to income of $ 0.51 per share bottom line.
Previous Quarter Performance
TrustCo Bank Corp NY unwinded income for the second quarter of $ 0.12 per share, from the revenue of $ 41.11 million. The quarterly earnings reduced 20.00 percent while revenues decreased 6.80 percent compared with the same quarter last year.
Street analysts expected TrustCo Bank Corp NY to report income of $ 0.11 per share on revenue of $ 40.64 million for the second quarter. The bottom line results beat street analysts by $ 0.01 or 9.09 percent, at the same time, top line results outshined analysts by $ 0.47 million or 1.16 percent.
Stock Performance
Shares of TrustCo Bank Corp NY traded up $ 0.08 or 1.39 percent on Tuesday, reaching $ 5.49 with volume of 252.80 thousand shares. TrustCo Bank Corp NY has traded high as $ 5.53 and has cracked $ 5.45 on the downward trend
The closing price of $ 5.49, representing a 25.81 % increase from the 52 week low of $ 4.30 and a 40.55 % decrease over the 52 week high of $ 9.10.
The company has a market capital of $ 528.93 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Piper Sandler at Overweight rating, with $ 6.50 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.0681 per share on August 18, 2020. The dividend were payable on October 1, 2020 to holders of record as of the close of business on September 4, 2020 and ex-dividend date on September 3, 2020.
Conference Call
TrustCo Bank Corp NY will be hosting a conference call at 9:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.trustcobank.com
TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage backed securities.
